The annual salary statistics of personal financial advisors in Detroit-Livonia-Dearborn, Michigan is shown in Table 1. The wage information of personal financial advisors in Detroit-Livonia-Dearborn is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $40,640 |
| 25th Percentile Wage | $58,000 |
| 50th Percentile Wage | $87,900 |
| 75th Percentile Wage | $148,160 |
| 90th Percentile Wage | $157,790 |
Table 1 shows the average annual salary for personal financial advisors in Detroit-Livonia-Dearborn, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $157,790. The median (50th percentile) annual salary is $87,900. The average annual salary for the bottom 10 percent earners is $40,640.
The table and chart below show the trend of the median salary of personal financial advisors from 2012 to 2017.
| Year | Median Salary | Yearly Growth | 5-Year Growth |
|---|---|---|---|
| 2017 | $87,900 | -21.51% | 37.96% |
| 2016 | $106,810 | 34.49% | - |
| 2015 | $69,970 | 13.05% | - |
| 2014 | $60,840 | 11.59% | - |
| 2013 | $53,790 | -1.38% | - |
| 2012 | $54,530 | - | - |
From Table 3 we note that the median annual salary of $87,900 in Detroit-Livonia-Dearborn is in the middle of salary range for personal financial advisors in state of Michigan. In comparison, the annual salary of personal financial advisors in Detroit-Livonia-Dearborn is 32.8 percent (32.8%) lower than that in the highest paying Battle Creek and 42.5 percent (42.5%) higher than that in the lowest paying Holland-Grand Haven.